3805 Gulf Breeze Pkwy Gulf Breeze, FL 32563

This exceptional investment opportunity presents a fee simple ownership (land and building) of a Ruby Tuesday restaurant in Gulf Breeze, Florida. The property boasts a 5,964 square foot building on a 1.33-acre lot, featuring 118 parking spaces. Built in 2002 and zoned C-1 Commercial, the property enjoys a prime location at 3805 Gulf Breeze Pkwy, situated on a signalized hard corner intersection with high visibility and highway frontage. The absolute NNN lease, with a corporate guarantee from Ruby Tuesday, Inc., commenced December 1, 2017, and has a remaining term of 13 years, with four 5-year renewal options. The lease includes a 10% rental increase every five years, providing consistent NOI growth and inflation protection. The current NOI is $144,404, resulting in a 6.25% cap rate and an asking price of $2,310,000 ($387.32/sq ft). Benefiting from strong demographics, the 5-mile trade area boasts a population exceeding 26,000 with an average household income of $131,000. The property's strategic location as a pad site to a Lowe's Home Improvement and adjacent to a Walmart Supercenter ensures high traffic volume. Nearby national tenants include Publix, Dollar Tree, Walgreens, and more, further enhancing the property's desirability. This is a management-free investment opportunity ideal for out-of-state investors. The property's APN is 28-2S-28-0000-01708-0000.